VeChain Is Struggling to Recover
VeChain (VET) is down 4.7% this week, trading at $0.02100, underperforming the broader crypto market as Bitcoin (BTC) continues to rally with a 3.2% gain to over $70,000. VET has remained within a tight trading range of $0.02000-$0.02500 over the past three months, and it is currently nearing the lower support of this range. A rebound from this level could occur if buying interest strengthens.
The recent launch of VeChain's Blockchain-Powered Digital Passport has bolstered security, a positive development for long-term utility. However, this feature also introduced additional complexity for users, potentially impacting adoption and putting pressure on VET's price.
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